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Infra Built in ZIRP '25: Digital Media Platforms
5 tickers · $290.79B total market cap
Group: Infra Built in ZIRP
The investment thesis for digital media platforms built during the ZIRP era (SPOT, PINS, SNAP, ROKU, APP) is cautiously optimistic as of Spring 2025. These companies leveraged cheap capital to build expansive infrastructures and cultivate large user bases, which now serve as significant competitive advantages in a higher interest rate environment. However, the sustainability of these advantages is contingent upon their ability to monetize their platforms effectively amidst evolving consumer preferences and increased scrutiny on data privacy.
Infra Built in ZIRP '25: Digital Media Platforms tracks 5 publicly listed stocks in this theme: APP, PINS, ROKU, SNAP, SPOT. See the constituent table for details.
Thesis update: 2025-04-01
Constituents
Build 20260520T081747
| Company | Previous Quarter Report Date | Next Expected Report Date | Last Quarter Earnings Move % | Earnings Move % | Intra-Quarter Move % | Since Last Report % | Market cap | Weight |
|---|---|---|---|---|---|---|---|---|
AppLovin CorporationAPP | 05/06/2026 (AMC) | 05/06/2026 (AMC) | -14.50% | 4.34% | 20.04% | -4.40% | $160.21B | 20.0000 |
Spotify Technology S.A.SPOT | 04/28/2026 (BMO) | 04/28/2026 (BMO) | 17.44% | -10.54% | 1.78% | -0.45% | $90.89B | 20.0000 |
Roku, Inc.ROKU | 04/30/2026 (AMC) | 04/30/2026 (AMC) | 8.60% | 9.73% | 29.42% | -2.43% | $17.78B | 20.0000 |
Pinterest, Inc.PINS | 05/04/2026 (AMC) | 05/04/2026 (AMC) | -16.83% | 10.19% | 35.21% | -15.44% | $12.52B | 20.0000 |
Snap Inc.SNAP | 05/06/2026 (AMC) | 05/06/2026 (AMC) | -11.68% | -2.13% | 17.05% | -7.19% | $9.39B | 20.0000 |
| Average | -3.40% | 2.32% | 20.70% | -5.98% | $58.16B | 20.0000 | ||
| Median | -11.68% | 4.34% | 20.04% | -4.40% | $17.78B | 20.0000 | ||
| Std Dev | 13.79% | 7.82% | 11.48% | 5.23% | $59.29B | 0.0% | ||
| Min | -16.83% | -10.54% | 1.78% | -15.44% | $9.39B | 20.0000 | ||
| Max | 17.44% | 10.19% | 35.21% | -0.45% | $160.21B | 20.0000 | ||
| % Positive Tickers | 40.00% | 60.00% | 100.00% | 0.00% |
* Provisional value: before LstRpt% reaches its 2-day post-report lock window (BMO/AMC adjusted), EarningsPerf is calculated from current vs pre-report and then locks to final LstRpt%.